Magazine article Black Enterprise

Pep Talk

Magazine article Black Enterprise

Pep Talk

Article excerpt

I'm a 32-year-old mother of two and I've spent a great deal of time riving paycheck to paycheck, but now I want to improve my credit and become financially responsible. I've cut down on spending, but my bank account is always overdrawn so bills go without payment. How can I get on track if I am always in the hole?

--T. Jones

Chicago

I'm glad you recognize your problem and want to change it. Initially, it will seem tough, but it's well worth it. And there are lots of free resources to help you do it.

First, educate yourself on being proactive about your finances. The U.S. Financial Literacy and Education Commission (www.mymoney.gov) was put together for the purpose of improving Americans' financial literacy, so explore the Website for tips and advice.

Also, record your spending habits for one week. Once you see where the discretionary funds really end up, you'll be confident in your decision to make adjustments. …

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